Current Affairs - 24th May 2014
SEBI permits fund houses to accept investments up to Rs. 50,000
SEBI has allowed fund houses to accept investments up to Rs. 50,000 to enter the mutual fund sector. To enable more investors to enter into the MF sector, especially those with limited banking facility at their disposal, SEBI has passed this regulation.
ONGC ordered to pay a Rs. 56384 in subsidy
The government has ordered ONGC to pay Rs. 56,384 in subsidy so that State owned fuel retailers cover some of the losses incurred on diesel and cooking fuel in 2013-2014. State retailers such as Indian Oil and Bharat Petroleum will be helped by this move.
Kathleen Stephens named the interim US ambassador
Following Nancy Powell's retirement, Kathleen Stephens has been named the new interim ambassador for the US. The outgoing US ambassador took charge on April, 2012 and retired in March this year.
Penguin India announces partnership with Wiley India
Penguin India has made an announcement about the new partnership with Wiley India. Wiley India is part of the global publisher John Wiley & Sons. Wiley India has been appointed as their exclusive distributor in the country.
Vikramaditya Kulkarni wins Chess Tournament
International Master Vikramaditya Kulkarni won against Aditya Udeshi at the final round of Kotak Mahindra Bank International Open FIDE Rating Chess Tournament. The championship was won with a score of 7.5. Kulkarni played white and he gained the draw to become the champion.
Reliance Retail to expand in e-commerce sector
Reliance Retail which is the retain arm of RIL will explore markets through the e-commerce route this year. They are planning to expand into the e-retail market to tap the potential of the e-commerce channel this year, according to the annual report.
Supreme Court suspends production of 26 iron ore producing mines in Odisha
Following the SC order to suspend production of 26 iron ore producing mines in this state, the Forest Advisory Committee set by the Ministry of Environment and Forests has recommended that Stage 1 clearance for 2 more iron ore producing mines by SAIL and OMCL be revoked.
Sensex and Nifty Rally Continues
BSE Sensex is now the top performer when it comes to the Asia Pacific region. The benchmarl BSE sensex closed at 24,693 which is up by 1.31%. The Nifty settled at the 7,637 mark. Stocks such as Maruti Suzuki, Nitrite and Can Fin Homes hit new highs.
WTO sets up panel to resolve India-US solar dispute
The US has opposed the domestic sourcing norms set up by India regarding solar products and the WTO has set up a panel to settle the case. As no country can oppose the formation of a panel the second time, WTO has now formed one for the purpose of resolving this dispute.
